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Goodluck Industries, a prominent producer of value-added steel products, is poised to achieve an additional revenue of ?500 crore with the launch of its new hydraulic tube manufacturing plant in Uttar Pradesh. The state-of-the-art facility is equipped with advanced technology, enabling the production of hydraulic tubes for sectors such as construction machinery, light commercial vehicles, and industrial equipment. Ram Aggarwal, CEO of Goodluck Industries, highlighted the rising demand for hydraulic tubes driven by government infrastructure investments and a booming real estate market. He noted that the new product line would serve as a significant import substitute. Aggarwal also revealed that the plant, which has an annual production capacity of 50,000 tonnes, could double its capacity by mid-next year as demand grows and utilization reaches 60-70%. The hydraulic tubes are designed to meet stringent quality standards for both automotive and construction applications. The plant’s operations are expected to generate an EBITDA of 16%, alongside the incremental revenue. The company is also focusing on high-margin products targeting the defence and aerospace sectors, in addition to the automotive tubing market. Goodluck Industries is already a key global supplier of auto tubes, with clients including Tesla, BMW, Volkswagen, Audi, and Mercedes-Benz. To further diversify its portfolio, the company plans to commission a dedicated plant for the defence sector by March. This facility, currently in trial production, will manufacture bullet shells, with the output undergoing rigorous quality testing. Aggarwal mentioned plans to collaborate with international buyers and Indian defence agencies to meet the growing demand in the sector. Goodluck Industries is also a supplier of specialised high-grade steel and hydraulic components for India’s bullet train projects. The company expects the bullet train initiative to bolster its presence in infrastructure-related projects. “Strong growth is anticipated from this sector over the next 3–5 years, although near-term challenges may arise due to economic slowdowns,” Aggarwal added. |
